March 2024 Retirement Board Meeting
This meeting of the Town of Plymouth Retirement Board will be held in person.
Section I: Regular Business:
Minutes:
Minutes of February 23, 2024 Regular Session
Minutes of February 23, 2024 Executive Session
Minutes of February 23, 2024 COLA Vote
Warrants:
Warrant #12 Dated December 31, 2023 $ 3,213,955.85 Final
Warrant #1 Dated January 31, 2024 $ 3,183,139.50 Final
Warrant #2 Dated February 29, 2024 $ 4,965,789.81 Partial
Warrant # 3 Dated March 31, 2024 $ 2,686,229.75 Partial
Warrant #4 Dated April 1, 2024: $ 6,955.59 Partial
Trial Balance as of January 2024: $252,383,388.60
January 2024 Accounting & Banking Reports Presented to Board for Review:
Rockland Trust Checking & Money Market Acct Statements
Rockland Trust Checking & Money Market Acct Treasurer’s Reconciliations
Trial Balance
Cash Receipts
Cash Disbursements
Adjustments
Public Comment:
New/Old Business:
PERAC Memos:
Memo #10/2024: Tobacco Company List
Investments:
Portfolio Update and Review
Annual Statement:
Draft 2024 PERAC Annual Statement for review and vote
Office Lease:
Board to review and vote new office lease for period of March 1, 2024 through February 28, 2029.
Section II: Membership:
PERAC Modification of Retirement Allowance
Pursuant to MGL, Chapter 32, Sec 8(3), Kenneth Rood’s monthly allowance has been suspended, as he has exceeded his allowable earnings for 3 consecutive years. Mr. Rood will begin paying the Plymouth Human Resource Office directly for his insurance premiums until he his retirement allowance is re-instated.
New Hires:
Town:
9% Hazard, Tyler, Group 1, Election Coordinator
Perm. Full-time: $1,157.62 weekly
Start Date: February 26, 2024
School:
9% Eno, Brett, Group 1, Groundskeeper Floater
Perm. Full-time: $1,921.60 bi-weekly
Start Date: March 4, 2024
9% Muscato, Michelle, Group 1, Bus Driver
Perm. Full-time (25 hrs per week): $1,227.27 bi-weekly
Start Date: March 11, 2024
9% Perry, Patricia, Group 1, Bus Driver
Perm. Full-time (20 hrs per week): $981.82 bi-weekly
Start Date: March 11, 2024
Buybacks:
School:
Trail, Gail, Group 1, Paraeducator, has requested to purchase seven (7) months of creditable service for the period that she was inadvertently removed from the pension system by the School Payroll department. The total buyback for this service is $828.86.
Refunds:
Town:
Rodrigues, Daniel, Group 1, Laborer-Cemetery
Seven (7) Months Creditable Service (7/10/2023-2/16/2024)
Total Refund Including FWT: $2,957.31
School:
Kolb, Cheryl, Group 1, Paraeducator
Nine (9) Years, Two (2) Months Creditable Service (1/3/2005-3/27/2014)
Total Refund Including FWT: $9,608.36
Wallace, Catherine, Group 1, Paraeducator
Refund of Required Minimum Distribution
Total Refund Including FWT: $350.00
Rollovers:
School:
Wallace, Catherine, Group 1, Paraeducator
Twelve (12) Years, Six (6) Months Creditable Service (10/1/2001-6/20/2014)
Total Rollover: $8,102.60
Transfers:
School:
Brault, Danielle, Group 1, Paraeducator
Eleven (11) Months Creditable Service (9/23/2019-8/20/2020)
Total Transfer to MTRS: $3,384.36
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.